According to the BNAmericas website, the Brazilian Mining Association (Ibram) raised its mining investment forecast for the year 2018-22 to $19.5 billion, an increase of 8% from $18 billion in 2017-21.

Ibram President Walter Alvarenga, one of the largest private sector investments in five years.

Ibram expects Brazil’s mineral exports this year to reach 410 million tons, up 2.5% from the previous year.

Brazil’s Vale’s iron ore and nickel production will hit record highs, driving the growth of Brazilian mineral exports.

Mineral exports this year are expected to be $30 billion, up 5.6% from $28.4 billion in 2017.

In the first half of the year, Brazilian iron ore exports were 184 million tons, unchanged from the same period last year. Copper exports were 581,000 tons, an increase of 4%. Gold exports were 55.5 tons, an increase of 40%.